The first Donau Soja Market Report 2024 predicts that soybean area in Europe could increase by up to 10 percent this year to 5.6 million hectares. There are a number of drivers, including relatively high soybean prices, growing demand for plant proteins and EU policy incentives.
Soya is already set for a record harvest in Europe in 2023, up almost 24% on the previous year to 12.2 million tonnes. In the EU alone, 3 million tonnes of soya were harvested in 2023, 740,000 tonnes more than in 2022, an increase of a third on the previous year.
This trend is likely to continue in 2024, subject to this year’s weather conditions. “The upward trend and favourable forecast is a great opportunity for the food industry to switch to certified regional soya from Europe. The advantage for producers and consumers is that it is GMO-free and guarantees that certified European soya is deforestation-free and therefore also meets the criteria of the EU Deforestation Regulation (EUDR),” says Donau Soja President Matthias Krön.
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